Astrazeneca (NYSE:AZN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Astrazeneca (NYSE:AZN) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts also recently issued reports about the stock. HSBC restated a “buy” rating and issued a $108.00 target price on shares of Astrazeneca in a research note on Wednesday, December 10th. Weiss Ratings assumed coverage on shares of Astrazeneca in a research note on Wednesday, March 11th. They set a “buy (b)” rating for the company. Citigroup assumed coverage on Astrazeneca in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Barclays reissued an “overweight” rating on shares of Astrazeneca in a research note on Tuesday, January 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Astrazeneca currently has an average rating of “Moderate Buy” and a consensus price target of $95.75.

Astrazeneca Price Performance

Shares of AZN opened at $183.40 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The firm has a market cap of $284.44 billion, a PE ratio of 31.59, a P/E/G ratio of 1.38 and a beta of 0.32. Astrazeneca has a 12-month low of $122.48 and a 12-month high of $212.71.

Astrazeneca Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be issued a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a dividend yield of 156.0%. Astrazeneca’s payout ratio is currently 66.26%.

Hedge Funds Weigh In On Astrazeneca

A number of hedge funds and other institutional investors have recently modified their holdings of AZN. Brighton Jones LLC increased its holdings in shares of Astrazeneca by 93.2% in the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after acquiring an additional 2,789 shares during the period. AQR Capital Management LLC lifted its stake in shares of Astrazeneca by 45.3% during the 1st quarter. AQR Capital Management LLC now owns 37,501 shares of the company’s stock worth $2,756,000 after purchasing an additional 11,690 shares during the last quarter. Geode Capital Management LLC boosted its position in Astrazeneca by 2.9% during the second quarter. Geode Capital Management LLC now owns 505,055 shares of the company’s stock valued at $35,293,000 after purchasing an additional 14,025 shares in the last quarter. SG Americas Securities LLC grew its stake in Astrazeneca by 123.6% in the second quarter. SG Americas Securities LLC now owns 10,321 shares of the company’s stock valued at $721,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in Astrazeneca by 3.4% in the second quarter. Kingsview Wealth Management LLC now owns 12,491 shares of the company’s stock valued at $873,000 after purchasing an additional 413 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.